Dealing with Social Media Competition

Dealing with Social Media Competition

In an increasingly competitive world, companies are constantly trying to get ahead of the game. New marketing schemes, adapting to a rapidly changing economy, and the new technology driven industries have thrown off how we traditionally deal with competitors. So, the million-dollar question for the modern marketer becomes this: how DO we deal with this new competition? We have five tips and tricks for you, dear reader, to stay not only one step ahead but instead several strides and put your brand on the billboard!

The first thing that has to become your number one priority is researching the industry. Be proactive, stay informed! Your consumers are smart and will be doing their own research, so knowing exactly what you’re advertising is key. If you know nothing about computers but want to promote a tech business, then educate yourself on the newest brands, releases, and trends. What is upcoming in the next six months is especially important when marketing. What your consumers are looking for is key as well, so make sure to keep in contact with your intended demographic through polls, social media, and reading and replying to both criticism and praise.

Consumers love when a brand speaks to them. Make your product unique- have a recognizable design, label, and slogan. Chances are, you’ve heard of at least one person who has bought something that isn’t necessarily of the highest quality for a higher price simply because it’s cute or aesthetically pleasing. This will heavily facilitate your commercial popularity because people want to know what they are buying, and consistency as well as good taste appeals to them. Have an “it” factor, or several! The more, the merrier, and the more likely your buyers will remember and advertise your brand.

Developing an online presence is very important- in the age of technology your company must be able to keep accessible to any prospective buyers. Marketing through media such as Facebook, Twitter, Instagram, YouTube, and personal blogs and websites will help get your brand out there. Social media also allows you to build up your individual, unique brand and helps with completing your first priority by allowing an easy access of information. This a free, if not very cheap, alternative to literally putting your brand on a billboard.

Learn from your competitors. The enemy of your company might just end up being your best friend! This isn’t because they’ll gift you some of their sales for Christmas, but rather because you can learn a lot from them, especially as you only get started in the business. Analyzing their models can help you develop yours. Their slip ups can be your gains as well, so keep a sharp eye on them. Price match them in order to stay competitive when it comes to staying a financially viable option.

Literally staying ahead with your products can be a gamble, but provide your company with the boost they need to sell more and be more well known. Investing in new intellectual properties or technologies can make you a more attractive option, even if it comes with a higher price tag. Keep in mind changes of consumer interests meanwhile. You don’t want to develop technology that no one is interested in, costing your company time, money, and reputation that you simply can’t afford when trying to stay competitive.

Hopefully these tips will help you out in the future to better develop and propel your company forward to become the apex product of its industry!

In an increasingly competitive world, companies are constantly trying to get ahead of the game. New marketing schemes, adapting to a rapidly changing economy, and the new technology driven industries have thrown off how we traditionally deal with competitors. So, the million-dollar question for the modern marketer becomes this: how DO we deal with this new competition? We have five tips and tricks for you, dear reader, to stay not only one step ahead but instead several strides and put your brand on the billboard!

The first thing that has to become your number one priority is researching the industry. Be proactive, stay informed! Your consumers are smart and will be doing their own research, so knowing exactly what you’re advertising is key. If you know nothing about computers but want to promote a tech business, then educate yourself on the newest brands, releases, and trends. What is upcoming in the next six months is especially important when marketing. What your consumers are looking for is key as well, so make sure to keep in contact with your intended demographic through polls, social media, and reading and replying to both criticism and praise.

Consumers love when a brand speaks to them. Make your product unique- have a recognizable design, label, and slogan. Chances are, you’ve heard of at least one person who has bought something that isn’t necessarily of the highest quality for a higher price simply because it’s cute or aesthetically pleasing. This will heavily facilitate your commercial popularity because people want to know what they are buying, and consistency as well as good taste appeals to them. Have an “it” factor, or several! The more, the merrier, and the more likely your buyers will remember and advertise your brand.

Developing an online presence is very important- in the age of technology your company must be able to keep accessible to any prospective buyers. Marketing through media such as Facebook, Twitter, Instagram, YouTube, and personal blogs and websites will help get your brand out there. Social media also allows you to build up your individual, unique brand and helps with completing your first priority by allowing an easy access of information. This a free, if not very cheap, alternative to literally putting your brand on a billboard.

Learn from your competitors. The enemy of your company might just end up being your best friend! This isn’t because they’ll gift you some of their sales for Christmas, but rather because you can learn a lot from them, especially as you only get started in the business. Analyzing their models can help you develop yours. Their slip ups can be your gains as well, so keep a sharp eye on them. Price match them in order to stay competitive when it comes to staying a financially viable option.

Literally staying ahead with your products can be a gamble, but provide your company with the boost they need to sell more and be more well known. Investing in new intellectual properties or technologies can make you a more attractive option, even if it comes with a higher price tag. Keep in mind changes of consumer interests meanwhile. You don’t want to develop technology that no one is interested in, costing your company time, money, and reputation that you simply can’t afford when trying to stay competitive.

Hopefully these tips will help you out in the future to better develop and propel your company forward to become the apex product of its industry!

Rachel De Las Casas is Project Manager of Home Grown Digital at Newton College and Career Academy. Here, she works on collaborating with the team to exercise their social media marketing skill .